NIYO is a Bengaluru based fintech startup that offers digital banking solutions such as prepaid payroll cards, cross-border travel payment debit cards and multi-wallet tax benefit cards to customers. See more

Basic Information

NIYO is a Bengaluru based fintech startup that offers digital banking solutions such as prepaid payroll cards, cross-border travel payment debit cards and multi-wallet tax benefit cards to customers. Founded in 2015, NIYO operates as a neo-bank or challenger bank and offers digital banking products and services through partnerships with banks. Niyo is present in more than 30 cities across India with an employee strength of over 10000 across different cities. Niyo has a retail customer base of over 1.3 million and enterprise customer base of over 6000. The company's products include the Niyo Bharat card which is a zero-balance account, a Niyo taxsaver card and Niyo Global Account. See more

Legal Name

:

Finnew Solutions Pvt Ltd

Headquarters

:

Bangalore, Karnataka, India

Business Model

:

B2C, 

B2B2C 

Founding Date

:

Nov 2015

No. of Employees

:

11 to 20

Core Team

:
1.

VINAY BAGRI

Co-Founder

2.

VIRENDER SINGH BISHT

Co-Founder

Timeline
2015
true
Nov | Company Incorporation
Incorporation of the company
2016
Sep | Product Launch
Launch of NIYO Benefits Card Product
2017
true
Jan | Product Launch
Launch of NIYO Bharat Product
true

See More

Target Market

B2B

We provide integrated payroll, salary banking and HRMS solutions to enterprises (SMEs) who employ blue-collared workers

Client Segment

:

FinTech, SaaS

Target Companies

:

Small Enterprise, Medium Enterprise

Target Geography

:

India

B2C

We provide prepaid payroll cards along with mobile app for blue-collared workers and a zero forex mark-up cross border travel payment card for people who travel abroad

User Age

:

35 to 45, More than 60, 26 to 34, 18 to 25, 46 to 60

User Income

:

Upper-middle Income, High Income, Lower-middle Income, Lower Income

Location

:

India

Funding

Total Funding

$49.2M

Investors

:

1.

Social Capital

2.

HORIZON VENTURES

3.

Tencent Holdings

See More

Detail Round Breakdown

Round 1

$35M

Series Name

:

SERIES-B

Date

:

9th Jul 2019